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NET/STALGIA: Nostalgia-Tripping on the Internet Aesthetic

Publication Date
2014-January-01
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Authors
Department or Program
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Abstract

As the Internet drifts away from being a novel technology, people have increasingly become fascinated by the sometimes-garish, comparatively rudimentary aesthetics of the early web. Using Walter Benjamin's reflections on the Parisian arcades as a framework, I propose that this...

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Noise-trader risk: does it deter arbitrage, and is it priced?

Publication Date
2005-September-12
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Authors
Department or Program
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Abstract

Arbitrage positions that benefit from the reversion of closed-end fund discounts to rational levels show excess returns that increase in magnitude the more funds are mispriced. At the same time, fund trading volumes and bid-ask spreads more than double as...

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Noise-trading, costly arbitrage, and asset prices: evidence from US closed-end funds

Publication Date
2005-August-30
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Authors
Department or Program
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Abstract

The behavior of US closed-end funds is very different from that of the UK funds studied by Gemmill and Thomas (2002). There is no evidence that their discounts are constrained by arbitrage barriers, no evidence that higher expenses increase discounts...

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